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Exercise 11-08-b Suppose the following financial data were reported by SM Company for 2019 and...

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Exercise 11-08-b Suppose the following financial data were reported by SM Company for 2019 and 2020 (dollars in millions). udy 2019 3M Company Balance Sheets (partial) 2020 Current assets Cash and cash equivalents Accounts receivable.net Inventories Other current stets 1,878 Total current assets $11.07 Current liabilities $4,843 $1,917 $3,010 3.490 3.155 1.560 $9,687 $5.639 Calculate the current ratio and working cap tal for 3M for 2019 and 2020. (Round current rate 2 decimal places 1.25. 1. Enter working capital answers to m Current ratio on) 2019 2020 Working capital 2019 million 2020 1 Puyole l2000 2020 John W int ed. A hnen Working capital 2019 million 2020 million LINK TO TEXT Suppose that at the end of 2020, 3M management used $199 million cash to pay off $199 million of accounts payable. How would its current ratio and working capital have changed? (Round current to 2 decimal places, eg 1.25 : 1. Enter working capital answer to million.) Current ratio Working capital Click if you would like to show Work for this question: Open Show Work LINK TO TEXT

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